Marvell Technology (NASDAQ:MRVL) Stock Price Down 2.9% – Should You Sell?

Marvell Technology, Inc. (NASDAQ:MRVL)’s stock price fell 2.9% during mid-day trading on Friday . The company traded as low as $113.64 and last traded at $114.75. 2,975,536 shares were traded during trading, a decline of 69% from the average session volume of 9,616,507 shares. The stock had previously closed at $118.17.

Analyst Ratings Changes

MRVL has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday. Citigroup lifted their target price on shares of Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Barclays raised their price target on shares of Marvell Technology from $85.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Loop Capital upped their price objective on shares of Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.28.

Marvell Technology Stock Down 2.6 %

The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The stock has a 50 day simple moving average of $103.34 and a 200-day simple moving average of $82.45. The firm has a market cap of $99.62 billion, a PE ratio of -67.72, a PEG ratio of 4.03 and a beta of 1.41.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.21%. The ex-dividend date is Friday, January 10th. Marvell Technology’s dividend payout ratio is presently -14.12%.

Insider Activity at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total transaction of $120,750.00. Following the sale, the chief financial officer now directly owns 110,253 shares in the company, valued at approximately $8,875,366.50. This trade represents a 1.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Matthew J. Murphy purchased 13,000 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was acquired at an average price of $77.63 per share, with a total value of $1,009,190.00. Following the purchase, the chief executive officer now directly owns 221,915 shares of the company’s stock, valued at approximately $17,227,261.45. The trade was a 6.22 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 180,000 shares of company stock valued at $15,163,420. 0.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. State Street Corp grew its stake in shares of Marvell Technology by 0.3% during the 3rd quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock valued at $1,438,336,000 after purchasing an additional 68,893 shares during the period. Ameriprise Financial Inc. grew its position in Marvell Technology by 24.1% during the second quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock valued at $812,509,000 after buying an additional 2,254,610 shares during the period. Geode Capital Management LLC increased its holdings in Marvell Technology by 2.0% during the third quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company’s stock valued at $818,916,000 after buying an additional 219,692 shares during the last quarter. Wellington Management Group LLP raised its position in Marvell Technology by 4.3% in the third quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company’s stock worth $627,034,000 after acquiring an additional 359,005 shares during the period. Finally, Van ECK Associates Corp boosted its stake in shares of Marvell Technology by 26.6% during the 3rd quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock worth $538,868,000 after acquiring an additional 1,570,050 shares during the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Marvell Technology Company Profile

Marvell Technology, Inc, together with its subsidiaries, provides data infrastructure semiconductor solutions, spanning the data center core to network edge. The company develops and scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.